Santo Domingo.- Barrick Corporation president and CEO Aaron Regent arrived in the country Tuesday to tour the miners’ operations in the Pueblo Viejo (central) gold mine, in its final stage of construction.
The executive invited president Leonel Fernandez to accompany him in the tour, as well as the business mogul Gustavo Cisneros, Canada ambassador Todd Kuiack, among others.
Five years ago we set out on constructing a project which Dominicans could feel proud of, a world class mine, an engine of economic opportunities, a leader in environmental responsibility, a propellant for positive change in the communities,” Regent said upon his arrival.
He said when Pueblo Viejo starts operations, it will be one of the world’s few mines to produce more than one million ounces of gold per year, using the industry’s most advanced technology. “The mine incorporates sophisticated equipment which originates from nearly 20 different countries and different continents. I expect that in the future, engineers, from mines and foundries in Canada, the United States and Australia, come here to learn this new mine’s good practices."
From: United States, FREEPORT, Long Island.... (Look, beyond the words)
Where is the contract, does it change now that we know whats anticipated.....If leo drew up the contract it should be nulled and voided because he holds an illegal position as president...
Written by: RoyStone, 7 Feb 2012 1:28 PM
From: Australia
Yes, RobertoJose, tear up the contract.This country doesn't need foreign investment or a mining industry. It's got ....
Its got ......
Bachata
AND the world's best beaches (according to Blue Flag)
Written by: simondc3, 7 Feb 2012 2:10 PM
From: United States
Tear up the contract.
Fiat currency systems failing across the planet as we speak.
A return to gold as currency is inevitable.
Nevermind that mining comes with inherent destruction of the commons, irreplaceable in most of our and our children's chidren's lifetimes.
Written by: RoyStone, 7 Feb 2012 2:28 PM
From: Australia
simondc3,
Mining has a negligible effect on the environment, returns farm more income than farming, and these days, when the ore-body is exhausted the area is restored to its natural environment.
When farming has exhausted the soil then it becomes wasteland, and sometimes destroys the aquifer and brings up salt.
Mining companies are required to provide quality infrastructure.
Nothing is required of farmers. So what is the "inherent destruction of the commons"?
We need farming to eat, but lets keep things in perspective.
From: Dominican Republic, NEVER FORGOTTEN, NEVER FORSAKEN!
I don't think we should be proud specially when we get screw out of billions of the dollars
Mr.
Cuentame una de vaquero, Que esa no me gusto.
Written by: Vivacuba, 7 Feb 2012 2:57 PM
From: Dominican Republic
US criminals robbing more natural resources of the world. LADRONES
From: United States
Gold is traded at around $1,740 an Oz but when I multiplied that by 1.0M Oz my calculator broke.
Nevertheless, the point of the matter, it does not matter how much gold Barrick is able to mine or generate, the bottom line is what goes in our pockets ?
I just wonder of the $1,740 per oz how much does the DR really get to keep?
I can tell one thing and I am almost positive, the DR sold gold mining rights to Barrick in exchange for $24.00 worth of beads and trinkets. And any additional after the fact profits we get paid about a golden plate of rice & beans.
From: United States, FREEPORT, Long Island.... (Look, beyond the words)
Extract million ounces a year.......back up the monies with gold....DR is one of the few nations that can do it.....there are 451 mining projects going on......and this one nets more than they ever had in other projects....
Written by: RoyStone, 7 Feb 2012 5:06 PM
From: Australia
Vivacuba,
1) Barrick is a Canadian company, not US
2) Dominicans have known there is gold here for 500 years. What have they do about it so far? (Other than chop the hands of every Taino over 15 if they didn't give them a hawks-bell full of gold every 3 months.)
Written by: anthonyC, 7 Feb 2012 5:09 PM
From: United States
Written by: guillermone,
"I can tell one thing and I am almost positive, the DR sold gold mining rights to Barrick in exchange for $24.00 worth of beads and trinkets. And any additional after the fact profits we get paid about a golden plate of rice & beans. "
You know that is not true. In fact BG pays more in fees and Taxes to the Dominican Government than probably any other company in the country.
Written by: Vivacuba,
"US criminals robbing more natural resources of the world. LADRONES"
Barrick Gold is a Canadian Company. Perhaps you should actually investigate something you complain about!
From: Dominican Republic
Ohh! you are now full of Dominican history? eh! Dominicans chopping the hands of Tainos for Gold!?
go find yourself some books, and look for the gold in Spain, macagrano.
Written by: simondc3, 7 Feb 2012 6:49 PM
From: United States
roy,
Either you've lived very little or are conscientiously dishonest.
I can't accept you really believe gold mining to be negligible to the environ, so guess which I think you are?
Herein a few facts on gold mining am sure you know but others here may not:
1. an average of 10-30 tons of rock is crushed for one ounce of gold.
2. a much higher volume of water (mixed with cyanide and mercury which are nerve agents on all living organisms) is needed in the smelting process.
3. afterwards the sludge contaminated with cyanide and mercury is kept in situ as it is hazardous waste.
4. for most multi-nationals there's always an accident where the sludge is released into some river or some other commons the people rely on, luckily the multi-nationals then have no responsibilities, but the people and their progeny end up with congenital diseases that weren't there before.
If the smelting happened in Sydney, or Melbourne, or even Perth, I wouldn't really care but that's not the case.
From: United States, FREEPORT, Long Island.... (Look, beyond the words)
I don't know about 10-30 tons of rock for an ounce of gold, I've seen test drills that produce 3 to 4 ounces collectively...
Written by: RoyStone, 7 Feb 2012 8:02 PM
From: Australia
simondc3,
I am very familiar with gold and other metaliferous mining and mineral processing, having spent many years involved in the design and supply of equipment to mines in Victoria, South Australia, Tasmania and the Northern Territory, and also in New Guinea.
I am familiar with some of the environmental disasters, especially in New Guinea. I am also familiar with the environmental impact studies and precautions that new mines are required to adhere to.
A am confident that the Barrick Gold Mine will have minimal environmental impact, and that the site will be restored and re-vegetated properly on completion. The process is not heap-leaching and is very different from the traditional cyanide extraction process you described. Refer to their website for details.
I am astounded at the objections on environmental grounds, given this county is a monument to environmental vandalism and pollution and is ongoing. The rubbish in the streets, forest, rivers and beaches is almost inescapabl
Written by: derek, 7 Feb 2012 8:21 PM
From: Dominican Republic
Go ROY GO... tell the naysayers they dont have a clue what they are talking about. I live close by and have been lucky to chat with a couple of engineers from the site. They were absolutely emphatic that everything , but everything , would be done to the highest standards possible. That Barrick would be held accountable, not just in DR, but in International courts, if they failed to maintain standards.
Also that only since some new tech was developed has it become possible to extract gold economically from the site, They tried to explain, but over my head.
Potentially a HUGE source of income for the DR
From: United States, Brooklyn
How much is the oz of gold valued at?
How much is our government gettting from it?
This news clip is useless without these information!!!!
Written by: RoyStone, 8 Feb 2012 8:42 AM
From: Australia
CarlosFranco,
1) The current world value of gold, to the minute, is freely available.
2) The percentage going to the government is meaningless without knowing the size of the ore-body (hence the life of the mine), the capital cost, the running cost, the restoration cost, etc.
Perhaps you are going on the popular assumption the the price of gold, minus the government's cut, is sheer, unadulterated, filthy-capitalist profit to undeserving foreigners. It's not.
Certainly the price of gold fluctuates. There are no guarantees and this is part of the enormous risk they, not the government, carry. They can lose millions but the country does not refund any of the money or infrastructure.
Get real!
Written by: Vivacuba, 8 Feb 2012 7:39 PM
From: Dominican Republic
U.S., Canada, Mexico. What is the difference? A north american union company stealing resources globally. It is traded on the criminal NYSE. Robbing the soveriegn nations natural resources is the important point. This belongs to the Dominican people and nobody else. Dominican people should be outraged.
Roy, "Dominicans have known there is gold here for 500 years. What have they do about it so far? " This does not give the right to foreign entities to come in and steal it. The ANR in alaska has oil that is untouched, but Iran doesnt come in and steal it from Haliburton and the washington global criminal oil barrons.
Written by: RoyStone, 8 Feb 2012 9:05 PM
From: Australia
Vivacuba, the gold is of no value to anyone when left in the ground. You obviously have no idea of what is involved. It takes masses if investment capital, intelligence, innovation, expertise and hard work. Since Dominican have none of these, then it would stay there were it not for the likes of Barrack. It is better to have some percentage of what its worth, than 100% of nothing, which is exactly what this country would get if ignoramuses like you were listened to.
Fortunately they're not.
Written by: RoyStone, 8 Feb 2012 9:24 PM
From: Australia
Absolutely, derek
But you can't tell these bigoted xenophobic Luddites anything.
Written by: RoyStone, 8 Feb 2012 9:58 PM
From: Australia
RobertoJose,
The amount of gold per ton of rock is only one of many factors determining profitability. The type of mineralization, type of mother rock, depth, etc. are all important.
Written by: Vivacuba, 9 Feb 2012 9:43 AM
From: Dominican Republic
Roy, "It is better to have some percentage of what its worth, than 100% of nothing" ...BETTER FOR WHOM? Theft is theft no matter how it is sliced diced. "WHERE" is all the gold at the bottom of the World Trade towers that went missing on 911? Nobody seems to be asking this question. Gold will hit $5-10K usd an ounce when all the global currencies collapse by the design of the criminals running america
Written by: RoyStone, 9 Feb 2012 9:56 AM
From: Australia
Vivacuba,
You wouldn't be one of these conspiracy nutters who believe 9/11 was masterminded by the CIA, earthquakes are caused by HAARP, and the vapor-trails of jet-aircraft are really mind-altering chemicals?
Anyway in answer to your question, "It is better to have some percentage of what its worth, than 100% of nothing" for the Dominicans who are too lazy, stupid or poor to mine "their" gold for themselves.
Maybe Dominicans need to be motivated like your beloved discoverer Columbus did, by threatening to chop the natives' hands off if they didn't dig the gold?
Written by: Vivacuba, 11 Feb 2012 1:31 PM
From: Dominican Republic
Written by: RoyStone, 12 Feb 2012 7:10 PM
From: Australia
wazakakaa,
According to Wikipedia,
"Columbus then required from the Taino that each adult over 14 years of age was expected to deliver a hawks bell full of gold every three months, or when this was lacking, twenty five pounds of spun cotton. If this tribute was not observed, the Taínos had their hands cut off and were left to bleed to death."
Since you claim this to be bull$hit, then perhaps you should give Wikipedia the benefit of your superior knowledge of history? Otherwise, shut-the-fu(k up.
From: Dominican Republic
And Columbus was a Dominican no? just like captain cook was an Aussie!.... U.S.M.F.
From: Dominican Republic
Ofcourse all this assuming you are from Au...
From: United States
What is USMF stand for?
United States Military Force
User Software Maintenance Facility
University System Of Maryland Foundation
U shut Mo Fo
Written by: Vivacuba, 14 Feb 2012 1:07 PM
From: Dominican Republic
United states MO FO 's
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Its got ......
Bachata
AND the world's best beaches (according to Blue Flag)
Fiat currency systems failing across the planet as we speak.
A return to gold as currency is inevitable.
Nevermind that mining comes with inherent destruction of the commons, irreplaceable in most of our and our children's chidren's lifetimes.
Mining has a negligible effect on the environment, returns farm more income than farming, and these days, when the ore-body is exhausted the area is restored to its natural environment.
When farming has exhausted the soil then it becomes wasteland, and sometimes destroys the aquifer and brings up salt.
Mining companies are required to provide quality infrastructure.
Nothing is required of farmers. So what is the "inherent destruction of the commons"?
We need farming to eat, but lets keep things in perspective.
Mr.
Cuentame una de vaquero, Que esa no me gusto.
Gold is traded at around $1,740 an Oz but when I multiplied that by 1.0M Oz my calculator broke.
Nevertheless, the point of the matter, it does not matter how much gold Barrick is able to mine or generate, the bottom line is what goes in our pockets ?
I just wonder of the $1,740 per oz how much does the DR really get to keep?
I can tell one thing and I am almost positive, the DR sold gold mining rights to Barrick in exchange for $24.00 worth of beads and trinkets. And any additional after the fact profits we get paid about a golden plate of rice & beans.
1) Barrick is a Canadian company, not US
2) Dominicans have known there is gold here for 500 years. What have they do about it so far? (Other than chop the hands of every Taino over 15 if they didn't give them a hawks-bell full of gold every 3 months.)
"I can tell one thing and I am almost positive, the DR sold gold mining rights to Barrick in exchange for $24.00 worth of beads and trinkets. And any additional after the fact profits we get paid about a golden plate of rice & beans. "
You know that is not true. In fact BG pays more in fees and Taxes to the Dominican Government than probably any other company in the country.
Written by: Vivacuba,
"US criminals robbing more natural resources of the world. LADRONES"
Barrick Gold is a Canadian Company. Perhaps you should actually investigate something you complain about!
Ohh! you are now full of Dominican history? eh! Dominicans chopping the hands of Tainos for Gold!?
go find yourself some books, and look for the gold in Spain, macagrano.
Either you've lived very little or are conscientiously dishonest.
I can't accept you really believe gold mining to be negligible to the environ, so guess which I think you are?
Herein a few facts on gold mining am sure you know but others here may not:
1. an average of 10-30 tons of rock is crushed for one ounce of gold.
2. a much higher volume of water (mixed with cyanide and mercury which are nerve agents on all living organisms) is needed in the smelting process.
3. afterwards the sludge contaminated with cyanide and mercury is kept in situ as it is hazardous waste.
4. for most multi-nationals there's always an accident where the sludge is released into some river or some other commons the people rely on, luckily the multi-nationals then have no responsibilities, but the people and their progeny end up with congenital diseases that weren't there before.
If the smelting happened in Sydney, or Melbourne, or even Perth, I wouldn't really care but that's not the case.
I am very familiar with gold and other metaliferous mining and mineral processing, having spent many years involved in the design and supply of equipment to mines in Victoria, South Australia, Tasmania and the Northern Territory, and also in New Guinea.
I am familiar with some of the environmental disasters, especially in New Guinea. I am also familiar with the environmental impact studies and precautions that new mines are required to adhere to.
A am confident that the Barrick Gold Mine will have minimal environmental impact, and that the site will be restored and re-vegetated properly on completion. The process is not heap-leaching and is very different from the traditional cyanide extraction process you described. Refer to their website for details.
I am astounded at the objections on environmental grounds, given this county is a monument to environmental vandalism and pollution and is ongoing. The rubbish in the streets, forest, rivers and beaches is almost inescapabl
Also that only since some new tech was developed has it become possible to extract gold economically from the site, They tried to explain, but over my head.
Potentially a HUGE source of income for the DR
How much is the oz of gold valued at?
How much is our government gettting from it?
This news clip is useless without these information!!!!
1) The current world value of gold, to the minute, is freely available.
2) The percentage going to the government is meaningless without knowing the size of the ore-body (hence the life of the mine), the capital cost, the running cost, the restoration cost, etc.
Perhaps you are going on the popular assumption the the price of gold, minus the government's cut, is sheer, unadulterated, filthy-capitalist profit to undeserving foreigners. It's not.
Certainly the price of gold fluctuates. There are no guarantees and this is part of the enormous risk they, not the government, carry. They can lose millions but the country does not refund any of the money or infrastructure.
Get real!
Roy, "Dominicans have known there is gold here for 500 years. What have they do about it so far? " This does not give the right to foreign entities to come in and steal it. The ANR in alaska has oil that is untouched, but Iran doesnt come in and steal it from Haliburton and the washington global criminal oil barrons.
Fortunately they're not.
But you can't tell these bigoted xenophobic Luddites anything.
The amount of gold per ton of rock is only one of many factors determining profitability. The type of mineralization, type of mother rock, depth, etc. are all important.
You wouldn't be one of these conspiracy nutters who believe 9/11 was masterminded by the CIA, earthquakes are caused by HAARP, and the vapor-trails of jet-aircraft are really mind-altering chemicals?
Anyway in answer to your question, "It is better to have some percentage of what its worth, than 100% of nothing" for the Dominicans who are too lazy, stupid or poor to mine "their" gold for themselves.
Maybe Dominicans need to be motivated like your beloved discoverer Columbus did, by threatening to chop the natives' hands off if they didn't dig the gold?
According to Wikipedia,
"Columbus then required from the Taino that each adult over 14 years of age was expected to deliver a hawks bell full of gold every three months, or when this was lacking, twenty five pounds of spun cotton. If this tribute was not observed, the Taínos had their hands cut off and were left to bleed to death."
Since you claim this to be bull$hit, then perhaps you should give Wikipedia the benefit of your superior knowledge of history? Otherwise, shut-the-fu(k up.
United States Military Force
User Software Maintenance Facility
University System Of Maryland Foundation
U shut Mo Fo